Apartment market in East Saigon: Waiting for a "new" project

New supply rarely appears, price fluctuations increase is the reality of the mid-high-end apartment market in District 9, District 2, Thu Duc District (HCMC) at the moment. However, price volatility and purchasing power are not evenly distributed across regions. New projects with advantages of geographical location and convenient transport connections are attracting buyers.

From the end of 2018 until now, the supply of mid-high-end apartments in the East Saigon area has been quite small. Current transactions mainly take place on the secondary market with the average recorded price increasing from 7-15% over the same period last year. In some prime locations, the price can be 20% difference within 12 months.

However, according to industry experts, the increase and transactions will not take place evenly across projects and regions. An overview of the apartment market in the East Saigon area shows that old projects always have a source of goods for sale, but the absorption capacity of investors is not significant because the secondary price has reached a relatively high threshold. , investors tend to look for "brand new" projects to enjoy better primary prices and better selling prices. In particular, in terms of price increase margin, new projects achieve a higher increase because of the advantages of the project such as modern design, diverse utilities, better building materials ...

If in the past, when it comes to apartments in the East of Ho Chi Minh City, buyers often target projects in the areas of District 2 & District 9, now their sights have shifted strongly to Pham Boulevard area. Van Dong - the inner city route is known as the most beautiful in Ho Chi Minh City, where there is convenient traffic connection to the city center and neighboring provinces such as Binh Duong, Dong Nai, while the price is still quite soft, suitable for both real and investment needs.

It is easy to see that the development potential of projects on Pham Van Dong route is not inferior to busy roads such as Hanoi highway, Mai Chi Tho, Nguyen Van Linh, Nguyen Huu Tho in the East and South areas of the city. . From this avenue, it only takes 20 minutes to Tan Son Nhat airport, 15 minutes to move to the city center and the distance to neighboring provinces such as Dong Nai, Binh Duong is not too far.